Category: Economy

Russian Foreign Minister Sergey Lavrov has said that the role of the US dollar as a global reserve currency may be diminished as more countries switch to national currencies in trade. “Abuse, gross abuse of the role of the US dollar as a world reserve currency will cause its role

The European commission has said the “simply unacceptable” imposition of high tariffs by the US on Spanish olives is already having a major effect on producers in southern Spain. This week the US Department of Commerce announced that tariffs ranging from 7.52% to 27.02% would be needed to counteract Spanish olive

Three years after it was saved from bankruptcy in 2010 with a €67.5bn rescue loan, Ireland became the first stricken eurozone state to stand on its own two feet. Dramatic austerity measures, including steep cuts to many public sector workers’ pay, had satisfied the European Union, the European Central Bank and the

India has filed a complaint with the World Trade Organization (WTO) to dispute US President Donald Trump’s tariffs on steel and aluminum. The country has estimated its annual losses from the tariffs and seeks to return $31 million levied on its aluminum exports and $134 million on steel. The tariffs

Locals don’t benefit from avocado business in Chile; a peasant in Petorca doesn’t have water to irrigate plants, raise animals; the river is dry and life is unbearable, Alexander Panez Pinto, Modatima, told. Villagers in Chile are locked in a fight for clean water, claiming farms supplying UK supermarkets with

The process of mining new bitcoin is now so intensive that computers carrying out the process are using nearly as much electricity as the entire country of Ireland. A new study by economist Alex de Vries estimates that bitcoin mining consumes at least 2.55 gigawatts of electricity and, by the end of

Just imagine if a Russian newspaper urged the Canadian Air Force to launch strikes on Brooklyn Bridge. There’d be outrage, and rightly so. But where’s the Western condemnation of the Washington Examiner for publishing an article calling for the bombing of the new Crimean Bridge, which opened this week? It’s

The Vatican has called for more regulation of markets and financial systems, saying economic crises showed they were not able to govern themselves and needed a strong injection of morality and ethics. In a major document, written by two key Holy See departments, the Vatican said profit for the sake

The re-imposition of US sanctions on Iran and Washington’s threat to punish European companies for doing business there provides a good opportunity for ditching the dollar, according to Keiser Report host, Max Keiser. “The US uses the dollar as a weapon to promote US dollar hegemony and the US Empire.

On the heels of Trump’s withdrawal from the Iran deal, France’s economy minister has urged Europe to stop acting like “US vassals” and continue trading with Tehran in defiance of what “the global economic policeman” has in store. “Do we want to be vassals who obey decisions taken by the